Tagged: big switch networks

Big Switch Networks’ $23.5 million offering lures eighteen backers

XDATA – June 26th 2017
So far eighteen investors participated to Big Switch Networks‘ $23.5 million non-brokered financing round. Financial backers bought, on June 9th, 88% of the offering or $20.71 million worth of equity. Based on the offering’s structure, the company has until June 2018 to raise an extra $2.79 million. The company closed three previous unregistered private placements which raised an estimated $79.66 million.
Big Switch Networks markets and develops hyperscale-inspired networking technologies. The company is taking three key hyperscale technologies — OEM/ODM bare metal and open Ethernet switch hardware, sophisticated SDN control software, and core-and-pod data center designs — and leveraging them in fit-for-purpose products designed for use in enterprises, cloud providers, and service providers. Investors include Morgenthaler Ventures, Silver Lake Waterman, Index Ventures, Khosla Ventures, Redpoint Ventures, Accton, CID Group and MSD Capital.
The company, headquartered in Santa Clara CA, is led by Douglas Murray (President). Big Switch Networks elected to keep its revenues undisclosed.
The executive team includes Kyle Forster.
The board of directors includes Bill Meehan, Bruce Armstrong, Dan Warmehoven, Gary Morgenthaler and Mike Volpi.

The company has raised an estimated total of $100.38 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Big Switch Networks
Industry: Other Technology
Amount offered: $23.5 million
Amount placed: $20.71 million
SEC filing: Source
First sale: 06-09-2017
Data as of: 06-26-2017
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